SL Advisors LLC decreased its holdings in shares of Raytheon (NYSE:RTN) by 3.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,174 shares of the aerospace company’s stock after selling 108 shares during the period. SL Advisors LLC’s holdings in Raytheon were worth $577,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Athena Capital Advisors LLC acquired a new position in shares of Raytheon in the 4th quarter valued at $26,000. Sontag Advisory LLC acquired a new position in Raytheon during the 4th quarter worth about $26,000. Bremer Trust National Association acquired a new position in Raytheon during the 4th quarter worth about $33,000. Laurel Wealth Advisors LLC acquired a new position in Raytheon during the 4th quarter worth about $34,000. Finally, Proficio Capital Partners LLC lifted its stake in Raytheon by 42.9% during the 4th quarter. Proficio Capital Partners LLC now owns 223 shares of the aerospace company’s stock worth $34,000 after acquiring an additional 67 shares in the last quarter. 75.81% of the stock is owned by hedge funds and other institutional investors.
In other news, CAO Michael J. Wood sold 523 shares of Raytheon stock in a transaction on Friday, March 29th. The stock was sold at an average price of $181.57, for a total value of $94,961.11. Following the completion of the sale, the chief accounting officer now owns 13,996 shares of the company’s stock, valued at $2,541,253.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Michael J. Wood sold 427 shares of Raytheon stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $177.58, for a total value of $75,826.66. Following the completion of the sale, the vice president now directly owns 13,165 shares of the company’s stock, valued at approximately $2,337,840.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,657 shares of company stock valued at $3,940,619. Company insiders own 0.19% of the company’s stock.
Raytheon stock traded down $0.27 during mid-day trading on Wednesday, reaching $182.09. 210,876 shares of the company were exchanged, compared to its average volume of 1,773,530. Raytheon has a twelve month low of $144.27 and a twelve month high of $229.75. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $51.47 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 1.39 and a beta of 0.99.
Raytheon (NYSE:RTN) last posted its quarterly earnings data on Thursday, January 31st. The aerospace company reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.04. The company had revenue of $7.36 billion during the quarter, compared to analysts’ expectations of $7.50 billion. Raytheon had a return on equity of 25.81% and a net margin of 10.75%. During the same period last year, the firm earned $2.03 EPS. Equities analysts predict that Raytheon will post 11.59 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 10th will be given a dividend of $0.9425 per share. This is an increase from Raytheon’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $3.77 annualized dividend and a yield of 2.07%. Raytheon’s dividend payout ratio (DPR) is presently 35.53%.
Several research firms recently issued reports on RTN. Zacks Investment Research raised Raytheon from a “hold” rating to a “buy” rating and set a $205.00 target price on the stock in a research note on Wednesday. UBS Group lowered Raytheon from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $220.00 to $200.00 in a research note on Wednesday, April 3rd. ValuEngine raised Raytheon from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Susquehanna Bancshares initiated coverage on Raytheon in a report on Thursday, January 10th. They issued a “positive” rating and a $187.00 price objective on the stock. Finally, Argus reiterated a “buy” rating and issued a $200.00 price objective on shares of Raytheon in a report on Friday, February 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the company. Raytheon has a consensus rating of “Buy” and a consensus target price of $212.23.
Raytheon Company develops integrated products, services, and solutions for defense and other government markets worldwide. It operates through five segments: Integrated Defense Systems (IDS); Intelligence, Information and Services (IIS); Missile Systems (MS); Space and Airborne Systems (SAS); and Forcepoint.
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